Is Key Peninsula-Anderson Island, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Key Peninsula-Anderson Island is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Key Peninsula-Anderson Island was a Seller's Market.

Key Takeaway

Key Peninsula-Anderson Island is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Key Peninsula-Anderson Island, WA

How much do homes in Key Peninsula-Anderson Island, WA cost?

Median Sold Price

$465,000

$315/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,000(-1.1%)

Key Takeaway

Homes in Key Peninsula-Anderson Island have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in Key Peninsula-Anderson Island was $465,000 in May 2024, down 1.1% from last year, and the median price per square foot was $315.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $407.5K$312.5K
-23.3%
2 $410.2K$410K
-0.1%
3 $470K$490K
+4.3%
4 $706.5K$675K
-4.5%
5+ $769.9K$987.4K
+28.2%

Summary: Key Peninsula-Anderson Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.3%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 28.2%.

Median Sold Price Compared To Nearby Cities

Gig Harbor Peninsula
+3.0%
Lakebay
+2.0%
Key Peninsula-Anderson Island
-1.1%
Vaughn
-18.9%

Housing Supply in Key Peninsula-Anderson Island, WA

How many homes are available in Key Peninsula-Anderson Island, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
105124+18.1%

Summary: The Key Peninsula-Anderson Island real estate market had 124 homes for sale in May 2024, a 18.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 86
-25.0%
2 2133
+57.1%
3 6266
+6.5%
4 1216
+33.3%
5+ 23
+50.0%

Summary: The Key Peninsula-Anderson Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2618-30.8%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Key Peninsula-Anderson Island, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 18 homes were sold or pending in Key Peninsula-Anderson Island in May 2024, down by 30.8% month-over-month. Of the 18 sold homes, 28% were sold under asking, 50% were sold at asking, and 22% were sold over asking.

Days on Market for Key Peninsula-Anderson Island, WA

How long does it take to sell a home in Key Peninsula-Anderson Island, WA?

Average Sale Time

May 2023May 2024CHANGE
53 Days56 Days+5.5%

Summary: Homes in Key Peninsula-Anderson Island had an average of 56 days on market in May 2024, up by 5.5% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Key Peninsula-Anderson Island are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 18 homes were sold in Key Peninsula-Anderson Island; 56% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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